Adani Power signs agreement for 1424 mw power to Haryana

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Adani Power Limited (APL) has achieved yet another milestone by signing Power Purchase Agreement (PPA) with Government of Haryana for supply of 1424 MW of Power for 25 years. The bid was awarded to APL based on a competitive tariff bidding process which had taken place a few months ago. The levelized tariff under the agreement is Rs.2.94 per unit. The power will be supplied to HPGCL from Adani Power's Mundra power generation facility.

 

The most important and unique feature of this project is more than 1000 km long dedicated HVDC transmission system which APL is planning to construct for  supplying  power from Mundra (Gujarat) to Haryana. This dedicated HVDC transmission system will virtually bring the generating power plant located at Mundra to Haryana. This initiative sets apart APL from other power developers who are generally concentrating on setting-up of power plants only. This is the first venture of its kind for transmission system with such a magnitude by a private sector operator.

 

The prestigious contract was today signed in the presence of Hon'ble Chief Minister - Shri Bhupender Singh Hooda, Hon'ble Minister of Power - Shri Randeep Singh Surjewala, Chief Secretary - Government of Haryana and other Senior Officials.

 

Speaking on the occasion Mr.Adani said "I take this opportunity to congratulate the Government of Haryana for taking the bold initiative of procuring electricity through a competitive bidding in a most transparent and expeditious manner." He also assured that, Adani group will pool all its resources to complete the project on schedule and ensure that Power is made available to Haryana well in time.

 

Adani Power had already signed power purchase agreements with Gujarat Urja Vikas Nigam Limited ("GUVNL") for the supply of 2,000 MW of power produced from the Mundra  power project, It has also received LOI for supplying 1320 MW power from its Tiroda plant in Maharashtra, which is under construction, to Mahavitran in Maharashtra.   Adani Power has till date successfully tied up 4744 MW of power supply.  

 

The company has six coal fired thermal power projects under various stages of development or planning, with a combined power generation capacity of 9,900 MW at a cost of over Rs. 43000 Crores. It intends to sell power under a combination of long-term power purchase agreements to industrial and state-owned consumers as well as on merchant basis.

 

Adani's have been able to provided competitive bids as they have presence across the entire value chain of power business. Adanis have coal mines in Indonesia for power plants at costal location like Mundra s and Lohara (Maharashtra) for inland location like Tiroda. In addition Adani has ordered for two Capsize ships for ferrying coal and are also investing in long distance power transmission lines. The company is largest importer for merchant coal in India at present and the group is also setting up world's largest coal import terminal to handle over 30 million MT of coal at Mundra. Adani group is the largest private sector power trader in India today.

 

Sourced From: Adani Group